Prevent Fraud with Mobile Security Solutions
Fraud is one of the actions that can be detrimental to banks. It appears that fraud is a common occurrence, even though it harms banks and customers. Fraud is a deliberate act of deviance intended to defraud, deceive, or manipulate banks, customers, or other parties. If the bank does not take this issue seriously, its losses will be so great that it will lose customers.
Prevent Fraud with Mobile Security Solutions
What is Fraud?
Fraud is a deliberate act of deception committed to gain an advantage for the perpetrator. Several common types of fraud include tax fraud, credit card fraud, wire fraud, securities fraud, and bankruptcy fraud. An individual, a group of individuals, or a business enterprise can typically perpetrate fraud.
How Can Mobile Security Solutions be Used to Prevent Fraud?
The use of mobile security and mobile app shielding can be a solution to reduce fraud without negatively impacting the mobile banking experience of your customers. Mobile security and mobile app shielding solutions can proactively manage malware threats with app shielding and runtime application self-protection (RASP) to detect and stop malicious activities before fraudsters incur losses.
Features of Mobile App Security to Prevent Fraud
Banking institutions can use mobile app security to safeguard customer information. In addition, banking institutions can enhance the mobile experience of their clients by safeguarding their personal information and reducing fraud with advanced authentication, mobile application security, and electronic signatures. You can implement and integrate mobile authentication with your mobile banking. The following features are provided by mobile app security:
- Mobile Authentication
You can combine multiple authentication methods to increase the security of your mobile banking application. The latest behavioral and biometric authentication options, FIDO, push notifications, Cronto, and many others are examples of mobile authentication.
- Mobile App Security
You can protect your company, applications, and customers from sophisticated mobile threats caused by the rising number of data breaches.
- Customer experience
Your company can optimize the user experience with transparent mobile app protection and proper security.
- Compliance
Auditor verification will demonstrate that using mobile app security satisfies stringent compliance requirements.
- Streamlined Development
With a full suite of developer tools from a mobile app security solution, your business can reduce development costs and time to market.
Mobile App Shielding Provides Complete Solutions to Prevent Fraud
If your company is serious about combating the fraud that typically occurs in your bank, you need a comprehensive technological solution to reduce the incidence of fraud. A mobile app shielding solution can complement your fraud prevention needs. Mobile app shielding can enhance your customers’ mobile app experience while controlling fraud and mitigating the most recent threats and vulnerabilities to mobile app security. Implement mobile application security and mobile application shielding for your mobile banking with Phintraco Technology. This subsidiary of Phintraco Group, which specializes in IT Infrastructure, also offers mobile app security and shielding solutions for mobile banking.
Contact us at marketing@phintraco.com for complete information on implementing mobile app security and shielding solutions.
Reference:
https://www.onespan.com/products/mobile-security-suite
https://www.onespan.com/products/application-shielding
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